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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
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